The dollar’s pressure on other currencies will ease in the coming week. This is confirmed by the drop in US bond yields last week and the surge in US inflation.
An important stimulus for the growth of the euro rate in the coming week will be the expectation of the strengthening of the international significance of this currency. A report on this on Wednesday will be released by the ECB, where it is expected to increase the share of the euro in world settlements. These results will be commented on by the head of the ECB Christine Lagarde.
However, Friday is saturated with important indicators of the US labor market. Insiders say the numbers will show record low unemployment and a large number of new jobs. This will greatly strengthen the dollar.
Oil traders will face a difficult week full of uncertainty and high volatility of quotations. The OPEC + meeting will approve new production limits, but participants should take into account the return to the Iranian oil market. The country is now under sanctions that could be lifted before the June 18 presidential elections.